THE NEVER ENDING MARCH HIGHER!

I think its time for me to throw in the towel on the mlp correction to the 200 day moving average. It will happen someday but the move higher continues in relatively unrelenting fashion as we sit now at 361 on the mlp index.


The fly in the ointment is the rate on the 30 year which starts the week at 4.12. Resistence on that chart is between here and 4.20. The 10 however shows no indication of breaking out as it sits under 2.60. Until we see something that will cause investors to move out of interest sensitive stocks, the path of least resistence is higher.

Buckeye Partners (BPL) announces earnings this morning along with the distribution which will be paid at the end of the month. Buckeye doesnt go ex-dis until Wednesday (bank holiday Thursday). Transmontaigne (TLP) is due out with earnings at any time while Markwest (MWE) and Atlas Pipeline (APL) are due out after the close.

Stock futures this morning are a little lower. Energy is lower except for nat gas which is higher and sits just under 4 dollars. Rates are flat right now and the dollar is higher.